Martin Midstream Companions LP, a Gulf Coast-focused oil and oil merchandise logistics firm, on Wednesday reported a web lack of $14.7 million for 2025, in comparison with a web lack of $5.2 million for 2024.
Final 12 months’s web outcome got here all the way down to $57.8 million in curiosity expense and $21.9 million in unallocated promoting, normal and administrative expense, in response to the Kilgore, Texas-based firm’s quarterly report.
Martin Midstream’s This fall web lack of $2.9 million, nonetheless, improved from a web results of -$8.4 million for the prior three-month interval.
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Full-year and This fall EBITDA adjusted for extraordinary or nonrecurring gadgets stood at $99 million and $24.8 million respectively.
Transport adjusted EBITDA for This fall 2025 elevated by $2.4 million towards This fall 2024 on greater inland utilization and offshore day charges within the marine division and elevated service income and transportation charges within the land division.
Terminaling and storage adjusted EBITDA for This fall 2025 rose by $2.7 million on greater refinery throughput and better income from pure fuel liquids underground storage.
Sulfur providers adjusted EBITDA for This fall 2025 fell by $3.7 million on decrease fertilizer margins.
Specialty merchandise adjusted EBITDA for This fall 2025 dropped by $0.9 million on the next lubricants gross sales quantity, partially offset by greater propane margins.
“Unallocated promoting, normal and administrative expense decreased by $0.9 million, reflecting decrease insurance-related prices”, Martin Midstream added.
Working actions generated $22.4 million in web money for This fall 2025, in comparison with $42.2 million for This fall 2024. On an annual foundation, working web money solely barely decreased, from $48.4 million for 2024 to $46.1 million for 2025.
Martin Midstream expects adjusted EBITDA to lower year-on-year to $96.5 million in 2026, regardless of a projected enhance in capital spend to $36.5 million primarily resulting from scheduled refinery turnaround exercise.
“Whereas our GAAP [generally accepted accounting principles] web loss displays non-cash gadgets and particular phase headwinds, our focus remained on steadiness sheet self-discipline”, stated Bob Bondurant, president and chief govt of Martin Midstream GP LLC, the final associate. “We ended the 12 months with complete debt excellent of roughly $439.1 million, liquidity of $31.4 million below our revolving credit score facility and an adjusted leverage ratio of 4.43 instances primarily based on credit score adjusted EBITDA”.
“Our 2025 outcomes throughout the terminaling and storage phase, our pure sulfur providers enterprise and our land transportation enterprise delivered secure efficiency, underscoring the sturdiness of our fixed-fee contracts inside these companies. This stability was partially offset by a decline in marine utilization through the third quarter, a softer fertilizer market within the fourth quarter and headwinds in our grease enterprise all year long”.
Martin Midsteam’s dividend for This fall 2025 was $0.005 per unit. Its annualized dividend per unit was $0.02.
Martin Midstream ended the 12 months with $129.9 million in present property together with $49,000 in money. Present liabilities stood at $124.1 million.
To contact the writer, e-mail jov.onsat@rigzone.com
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